The South African Reserve Bank and its counterparts in Australia, Malaysia and Singapore have developed an experimental platform for settling multiple central bank digital currencies.
Reserve Bank and its counterparts in Australia, Malaysia and Singapore have, together with the Bank for International Settlements , have developed an experimental platform for settling multiple central bank digital currencies, or CBDCs, on an international basis.
“The project identified challenges of implementing a multi-CBDC platform shared across central banks and proposes practical design solutions to address them.” “The project identified three critical questions: which entities should be allowed to hold and transact with CBDCs issued on the platform? How could the flow of cross-border payments be simplified while respecting regulatory differences across jurisdictions? What governance arrangements could give countries sufficient comfort to share critical national infrastructure such as a payments system?”
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